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How The Market Is Like CYNK (Which Was Just Halted)
For all the drama and comedy surrounding the epic idiocy in which a bunch of "investors" took the price of non-existent company CYNK from essentially zero to a market cap of over $5 billion in under a week, most people missed the key message here: the stock is a harbinger of what is happening to the entire market. Because while those defending what is clear irrational exuberance, scratch that, irrational idiocy are quick to point out that CYNK's epic surge took place on less than 0.1% of its outstanding shares, these are the same people to say precisely the opposite about the S&P 500. "Ignore the collapsing volumes sending the stock market to all time high - it's perfectly normal" is an often repeated refrain by the permabullish crowd. Just not when it involves case studies in market insanity like CYNK apparently.
Perhaps ironically, it was the concurrent most recent crisis in Europe, that involving Portugal's cryptic Espirito Santo group, whose top-most HoldCo is largely shrouded in secrecy yet which somehow is not a deterrent to the sellside community to issue one after another "all is clear; don't pull your deposits please" note, that confirmed not only that nobody has any idea what the real situation of European banks is, but how the entire capital market has now become nothing more than one glorified CYNK penny-stock turning into a mid-cap.
Deutsche Bank's Jim Reid explains:
Whatever one feels about financials and the wider financial system, credit markets did arguably get a small glimpse of what things will be like when this cycle does actually end as the structurally impaired liquidity that exists in credit caused a small amount of panic yesterday morning before markets recovered in the European afternoon session. Liquidity is really poor in credit these days which doesn't matter when markets are in buy only mode as they have been for many quarters now, but it does matter on the days when you get a negative story.
In other words, just like the CEO of CYNK who promptly "made" a few billion in paper profits, it feels great to "make" money on virtually no volume. The problem arises when one tries to cash out of paper and into all too real profits.
And here is what happens when one does finally try to book profits: moments ago the OTC BB just announced that, finally, CYNK was finally halted.
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Cynk sinks.
Coming to a stock near you.
Only after the criminals are well positioned.
Guess that means I'll have to swing my GPRO shares to margin
Once you're in you can never leave
Welcome to the Hotel Cynkafornia.
Exactly, also he is correct. The problem came when it looked like or orders where put to sell and they couldn't have that. Brothers and sisters, when this market implodes it will take the dollar with it and possibly the govt. also.
I don't understand how this stock is different from any other. It is worth exactly what someone (or algo) is willing to pay. Other than that it has no value whatsoever. Fucking casino chips and every body is whining about profits. These "investors" care nothing about value beyond what they can sell it for in the next few moments.
I say again, the future is dead. There is no demand to own anything that might have value in five years. Even thirty year bonds value ten days from now is irrelevant as the buyer is likely going to be trading them in the next four hours. WE now have paper gold and silver, because it just takes too damn long to actually buy and sell physical gold. We don't want to own anything, we don't want to build anything, we just want a piece of the action, our cut, a commission, a fee.
The brave new world, the same as it ever was, just more...the fast buck.
Bravo Sir!
As to when the curtain will be pushed back and the puppetmaster exposed to the masses remains to be seen.
The brave new world is really not so...brave!
DaddyO
The only thing people hate more than thinking they are being cheated is being told there is no such thing as something for nothing.
Cramer went long yesterday. BUY BUY BUY
Duly Noted. I read somewhere if you did the exact opposite of all of Cramer's predictions you would be filthy rich... BOO-YAA! what a jackoff.
Think fast...
http://www.youtube.com/watch?v=chOT-4r-twg
Although I understand what you're saying, don't underestimate the oligarch's understanding of what real wealth is. At the end of the day, land and other real estate, water, air, and natural resources are what counts. Look at who owns these things. The markets? These are for insiders and suckers. The insiders just use their play money to bilk everyone else. It's great to be in the .1%.
Look into who owns the land....
http://www.landreport.com/americas-100-largest-landowners/
http://www.cnbc.com/id/101078101
http://missoulian.com/news/local/nation-s-largest-landowners-claim-perce...
Is BTC and different than CYNK?
"There is no demand to own anything that might have value in five years."
Well I can think of one... Her Majesty the Queen of England owns over 8 billion dollars worth of Canadian and American stock. She has about 750 to 1000 different positions in every nook and crany of the North American economy at any one time.
See for yourself:http://relationalstocks.com/instshow.php?op=port&id=3641
Remeber thats just Canadian and American holdings, I have no idea how much of the English and European economy she owns.
She was pretty upset after 2007-9. Ah, to be in the 1%. I guess she would be in the .0000000001%
Cynk sunk.
I said yesterday that this was going to end badly, that it was likely a pump-n-dump scheme and lots of bag holders would lose their gamblings, er, investments. Good morning bag holders! How's your day going?
Cynics!
CYNK is a little OUT of SYNC......
Actually, I think the authors point was that CYNK was INSYNC with the crazy market, if we can still use the term market. Now the market? Totally out of Sync with reality.
CYNK was halted for one reason only: the deception was too obvious.
Wall Street knows the deception has to be somewhat concealed for the con to be effective. Plus, by halting CYNK, they will now say "Look at this scam we uncovered! We are looking out for you serfs!"
Does anyone really care that the "Rolex" you just bought on the street is fake, if you think you can sell it to someone else for more?
So the SEC is reading Zerohedge. They uncovered nothing.
But at least that is a start...
So ZH runs pop-up ads on midget tranny porn sites?
Never spook the school of fish by thrusting right in,
It makes the work of the other sharks that much harder,
and might get a bite taken out of your fin.
Another ass raping of the muppets.
And they thought it was love. Will they still get a call the morning after? Everybody loves the dumb blonde.
After the past 7 years, I still can't tell you why Jeff Skilling is in jail. Enron actually in some parts of their business made money and had assets. This is just ridiculous.
That was probably a contributing factor.
They were faced with the decision of putting a majority of CEOs in jail and they decided to change the entry criteria to, well, actually removing the criteria altogether.
The theory of our criminal justice system is not justice but setting an example or creating the illusion of justice to pacify the population. True justice found is more of an accident or coincidence than deliberate action.
Illusion of justice, illusion of security, illusion of choice, illusion of freedom.
'You've been living in a dream world, Neo.'
Soon the hipster rainbow facist version of this guy is going to be running wall street.
https://www.youtube.com/watch?v=lIxWPNVqwWo
organized crime buys paper from the company with their "cash"
they take the paper to their brokerage and surface the shares
they trade the paper, transfer to a bank account and PRESTO!!!! you now have surfaced crime proceeds
so good of the OTC BB to step in a few weeks later - NASD? SEC? right, back to sleep
It's probably not a good one to BTFD on.
How am I going to sell my shares now?
Crap I just got in yesterday looking for a ten-bagger. How am I going to get out now?
Try not to worry so much about your loss. You are an important part of the "system", like that of the water buffalo on the African plains can supply a pride of lions important nutrition for a week.
The "market" thanks you for your sacrifice.
was the ceo in on the bear trap scheme?
that's what shorts don't understand about the broader stock and bond markets. they are ALL CORNERED. if you want to lose money then by all means short this dog and pony show but YOU ARE ALL ALONE, nobody else is selling. Nobody loves you. Boo hoo.
The Section 419 Naija scam is still alive and well decades after burning many a fool and now more subtly refined by the banking syndicate to pull in even a greater portion of fuckwits.
Probably halted due to imminent release of good news. I bet its website is finally going live...
"CYNK Technologies announces reports mentioning CYNK found on many major news outlets."
This is more proof on how this is all a house of cards. When the market shuts the game is over!
For a long time I have been trying to develop a scenario for a market "super crash" and a reasonable map that would arrive at such a situation. Below is an article looking at how it could happen sooner rather than later.
http://brucewilds.blogspot.com/2013/01/flash-crash-on-steroids.html
Halted because someone tried to sell 1 share?
1 share..are HFTs involved now...oh my..to da moon
what we see is a challange to the fed..... go ahead and raise interest rates...... we dare you to think of the 401's and pension funds and the social consequences....
and the white house is saying.... pull the rug AFTER THE MIDTERMS... and make it hurt.... i'll fix it with my pen and phone...
and the "investment" pimps are luring the retail client YOU CANT LOOSE and MISSING THE OPPORTUNITY OF A LIFETIME... IT'S NOT TOO LATE .... YOURE GETTING ZERO N THE BANK....
I just bought this for my mother and that for my grandmother and I WANT YOU TO GET SOME TOO
just like AIDS client ZERO....
Maybe some of us should create our own shell company and IPO it.
It's all fucking crazy. I now view stocks as individual poker tables. They've always been that way but now it's extreme. More like a big game of jenga with more dire consequences.
Musical Chairs folks, musical chairs and er....there's only one chair.
And there's a giant fat guy smoking a cigar that's been sitting in it since before the music began.
Stocks are the perishables you hold in your larder or cellar. Of course wouldn't argue if folks included lead in their portfolio.
Speaking of Con jobs, so far on Bloomberg this morning I've been told to come to Detroit to work in tech because everything is now great and a congresscritter from Texas has told me that in the great American tradition we need to feed, clothe, shelter and take care of the "refugees" (yes he said "refugees") from South America because that's what we do as Americans.
When did Bloomberg go over to the dark side? Is there any responsible financial journalism on TV?????????
Dude, if you didn't figure out what Bloomberg was about when trying to control the size of our soda cups, you never will.
The short answer...No, not for a very long time.
DaddyO
When did Bloomberg go over to the dark side?
You're kidding, right?
"Give me your tired, your poor,
Your huddled masses, yearning to breath free,
The wretched refuse of your teeming shore,
Send these, the homeless, tempest tost to me,
I lift my lamp beside the golden door. "
I guess it's time to add some fine print and perhaps an expiration date to this relic of a comment inscribed on the statue of liberty?
It was changed in the 1930s thusly:
"Give me your tired, your poor,
Your huddled masses, yearning for free handouts,
The wretched criminals of your teeming jailhouses,
Send these, the homeless, drug addled to me,
I lift my lamp beside the tax-funded oven door.
I don't see what the big deal is. If a bunch of jerkoffs want to play a combination of Russian Roulette and 3-card monty, let them. Only a complete moron would join the game and they deserves the losses they get for doing so.
Intellectually, you're correct.
Morally, muppet slaughter is a reprehensible thing.
DaddyO
The problem is that the transaction is based upon trust. Expressed in terms of authenticity and valued by experts who claim by doing “Gods Work” they are to be trusted and have an expertise which will be utilized to your benefit for a small commission on your money, that you trust them with.
They issue statements constantly which “prove” their bon-a-fide.
An example as to how corrupt this is, when you buy bread, there is no guarantee that the bread is non-poisonous.
You believe that if it was, it would be OK, because only a fool trusts people.
Shearing Sheep is a policy only for those without humanity.
It is not a business model, it is criminal behavior no matter how justified.
Stocks are a method of counterfeiting.
Stocks are used as cash in very large transactions.
Stocks are used as a method to lower payroll costs.
Stocks are used as a method of excessive payment to executives.
A stock has the same value as a fait currency for exactly the same reason.
The reason being that someone by some algorithm equates a piece of paper as having a value by some division or multiplication of some mathematical expression.
The difference is that stocks can be manipulated by anyone with a twitter account, for instance, whereas a fait currency is manipulated only by an anointed few.
Both have a value equal to the amount of baloney people are willing to swallow, expressed by people with no skin in the game.
If you believe; you will be deceived.
That is why fundamentals have been reduced to talking points.
The beauty of stock scams is that, if you make money trading stock in a scam, you get to keep it, while a financial scam is susceptible to claw-back.
Examples: dot.coms vs Ponzi schemes.
A catchy slogan is worth more than an axiom, but not as much as well-timed tweet, such as I may eat lunch!
CNN's website has a story on it this morning. The headline: "Stock up 25,000%. No one knows why."
It's out in the mainstream idiocracy now....my guess is they halted it because of a flurry of new buy orders by all those "investors" out there looking to chase lottery-style returns.
http://money.cnn.com/2014/07/10/investing/cynk-stock-surge/index.html?hp...
"No one knows why" hahahah.... Duh, the stock was manipulated by criminal behavior, like the rest of the stock market has been. It was just more obvious with this one. I'm sure the trading halt is a slap to the people who did it to tell them to be less conspicuous next time. Amateurs, sheesh.
CNBS was talking about it yesterday afternoon after hearing it first from ZH - their source for most of the important news of the trading day.
stateside
"Don't be so CYNiKal, just HOPE for the best" -Obama 2014
You're full of shit Tyler. This is just normal price discovery in a healthy free market.
What is a "U3" halt code anyone?
Trading Halt - Extraordinary Event Halt
Trading is halted because FINRA has determined that an extraordinary event has occurred or is ongoing that has had a material effect on the market for the OTC Equity Security or the security underlying an OTC ADR or has caused or has the potential to cause major disruption to the marketplace or significant uncertainty in the settlement and clearance process.
Somebody broke away from watching the World Cup games to notice something not quite right in the Wall Street games.
Someone was buying and selling shares over the last month...so where did all the money go?
(I wonder if Hillary was short on this one.)
Derivative positions determine price movements and the media and so called financial experts scramble to assign reasons linking the moves with events in the real economy.
The markets continue to rise till all short positions in the market are covered and the majority of traders move to the long side. Once this is done the market falls till all long positions are closed and short positions undertaken. Then rinse and repeat. The price mechanism has little to do with the actual demand, supply, fundamentals or state of the economy.
www.marketoracle.co.uk/Article40231.html
Picking winners and losers is just another day in Fascist paradise.
Current market participation is a fools lesson - particularly when there is anything but a "market."
ZH tards, and (surprisingly) the rest of the world got to see this in plain sight on CYNK, but it may as well be any equity as they are all hammered any direction but legitimate. CYNK shows that price discovery is a relic of the past. Your canary is dead in the mine, but because the music still plays (and bailouts are already in the pipeline) it's ignored.
The truth even Tyler Durden candidly overlooks is that smart money is/has been completely out of paper and into hard assets (going on almost 8 years strong). Fools trade with themselves and call it capitalism - it is anything but. Then again, that is why they are fools that know precisely nothing but each other.
I removed due to duplicate post. My network went down and I double posted by accident. Sorry!
ZH will probably ban you and your spawn for a generation.
Maybe a good day to promote the MYRA program- (with stronger protective regulation the Federal Gvt. provides this kind of raw capitalistic opportunism couldn't happen)
I don't know WHAT you guys are talking about. Everything in the markets is just fine.
See?:
3 reasons to ignore all these 'correction' callsStocks set record highs last week and just days later after some rough waters here come the Pundits of Doom. Here's why you should ignore them.
Although, the charts of various indexes shown on the same page all point straight down into the red, but I'm sure everything's fine.
Maybe the porn-surfing whores at the SEC could explain to the American people how this non-outfit met listing requirements in the first place.
you get my cynk shares from my cold dead hands,
worth at least 10 billion. wait and see,
im also bullish on bitcoin using the very same metrics